**UNITED STATESSECURITIES AND EXCHANGE COMMISSION**Washington, D.C. 20549

**FORM 10-Q/A**

**Amendment No. 1**

 [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 

For the quarterly period ended**September 30, 2009**

 TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934

For the transition period from _______________ to _______________

Commission file number **333-149000**

**Midex Gold Corp.******(Exact name of small business issuer as specified in its charter) 

| **Nevada**

**N/A**

(State or Other Jurisdiction of Incorporation of Organization)

(I.R.S. Employer Identification No.)

 

 

**Kanonyele, Box 55758, Dar es Salaam, Tanzania**

**N/A**

(Address of principal executive offices)

(ZIP Code)

**+255 788 364 496**

(Issuer's telephone number) 

***_______________****(Former name, former address and former fiscal year, if changed since last report)*

Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was require to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  **Yes  [X]**   No [** **]

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer.  See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act.  (Check one):

Large accelerated filer o       Accelerated filer o     Non-accelerated filer o    **Smaller reporting company****þ**

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes [  ]** No [X]**   

 

APPLICABLE ONLY TO CORPORATE ISSUERS:

 

As of June 15, 2010, the registrant’s outstanding common stock consisted of 175,000,000 shares.

 

 

 

                 
              
**EXPLANATORY NOTE**

 

This Amendment No. 1 on Form 10-Q/A (this “Amendment”) amends the Registrant’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2009 which the Registrant previously filed with the Securities and Exchange Commission on June 15, 2010 (the “Original Filing”).  The Registrant is filing this Amendment to because the Registranthas restated its financial statements as at and for the three and six months ended September 30, 2009 due to an accounting error.  

 

The errors for the six month period ended September 30, 2009 related to recording of additional transfer agent fees of $3,544 and professional fees of $2,625.  The effects of the adjustment resulted in an increase in the net loss of $6,169, and a corresponding increase in accounts payable of $3,972 and an increase in amounts due to a related party of $2,197

Except as set forth above, the Original Filing has not been amended, updated or otherwise modified.  Other events occurring after the filing of the Form 10-Q/A or other disclosures necessary to reflect subsequent events have been addressed in our reports filed with the Securities and Exchange Commission subsequent to the filing of this Form 10-Q/A.

 

 

2

                 
              
**Table of Contents**

 

**PART I - FINANCIAL INFORMATION****4**ITEM 1. Financial Statements.4ITEM 2. Management Discussion and Analysis of Financial Condition / Plan of Operations.5ITEM 3. Quantitative and Qualitative Disclosure About Market Risks.8ITEM 4. Control and Procedures.8ITEM 4T. Controls and Procedures.8**PART II – OTHER INFORMATION****10**ITEM 1. Legal Proceedings.10ITEM 2. Unregistered Sales of Equity Securities.10ITEM 3. Defaults Upon Senior Securities.10ITEM 4. Submission of Matters to a Vote of Security Holders.10ITEM 5. Other Information.10ITEM 6. Exhibits.11 
 

 

3

                 
              
**PART I - FINANCIAL INFORMATION**

Midex Gold Corp.

(formerly Tripod International Inc.)

(An Exploration Stage Company)

September 30, 2009 Restated

 

 

Index
Balance SheetsF-1Statements of OperationsF-2Statements of Cash FlowsF-3Notes to the Financial StatementsF-4
 

 

4

                 
              
Midex Gold Corp.

(formerly Tripod International Inc.)

(An Exploration Stage Company)

Balance Sheets

(expressed in U.S. dollars)

(Restated – Note 6)

 

September 30,

2009

$

(unaudited)

March 31,

2009

$

ASSETS 

 

 

 

 

 

Current Assets 

 

 

 

 

 

Cash 

– 

55,373 

 

 

 

Total Assets 

– 

55,373 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ DEFICIT 

 

 

 

 

 

Current Liabilities 

 

 

 

 

 

Accounts Payable 

10,357 

– 

Due to a Related Party (Note 4)

18,589 

4,230 

 

 

 

Total Liabilities 

28,946 

4,230 

 

 

 

Stockholders’ Deficit 

 

 

 

 

 

Common Stock

Authorized: 250,000,000 common shares, with a par value of $0.001 per share

Issued and outstanding: 175,000,000 common shares at September 30, 2009 and   

 March 31, 2009, respectively 

175,000 

175,000 

 

 

 

Additional Paid-In Capital 

(70,000)

(70,000)

 

 

 

Accumulated Deficit During the Exploration Stage 

(133,946)

(53,857)

 

 

 

Total Stockholders’ Deficit 

(28,946)

51,143 

 

 

 

Total Liabilities and Stockholders’ Deficit 

– 

55,373 

 

 

 

 

Going Concern (Note 2)

 

 
(The accompanying notes are an integral part of these financial statements)

 

 

 

F-1

                 
              
Midex Gold Corp.

(formerly Tripod International Inc.)

(An Exploration Stage Company)

Statements of Operations

(expressed in U.S. dollars)

(unaudited)

(Restated – Note 6)

 

 

For the Three Months Ended September 30,

2009

For the Three Months Ended September 30,

2008

For the Six Months Ended September 30,

2009

For the Six Months Ended September 30,

2008

Accumulated from February 6, 2008 (Date of Inception) to September 30,

2009

 

 

$

$

$

$

$

**Revenue **

 

– 

– 

– 

– 

– 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

**Expenses **

 

 

 

 

 

 

 

 

 

 

 

 

 

General and Administrative 

 

37,641 

2,509 

80,089 

8,653 

133,946 

Income tax provisions 

 

– 

– 

– 

– 

– 

 

 

 

 

 

 

 

**Total Expenses **

 

37,641 

2,509 

80,089 

8,653 

133,946 

 

 

 

 

 

 

 

**Net Loss for the Period **

 

(37,641)

(2,509)

(80,089)

(8,653)

(133,946)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

**Loss Per Share – Basic and Diluted**

**Net Loss Per Share – Basic and Diluted **

 

– 

– 

– 

– 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

**Weighted Average Shares Outstanding **

 

175,000,000 

138,190,200 

175,000,000 

131,631,150 

 

 

 

 

 

 

 

 

 
(The accompanying notes are an integral part of these financial statements)

 

 

 

F-2

                 
              
Midex Gold Corp.

(formerly Tripod International Inc.)

(An Exploration Stage Company)

Statements of Cash Flows

(expressed in U.S. dollars)

(unaudited)

(Restated – Note 6)

 

 

For the Six Months Ended

September 30,

2009

 

For the Six Months Ended 

September 30,

2008

 

Accumulated from February 6, 2008

(Date of Inception) to September 30,

2009

 

 

$

 

$

 

$

**Operating Activities **

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss for the period 

 

(80,089)

 

(8,653)

 

(133,946)

 

 

 

 

 

 

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable 

 

10,357 

 

– 

 

10,357 

 

 

 

 

 

 

 

**Net Cash Used In Operating Activities **

 

(69,732)

 

(8,653)

 

(123,589)

 

 

 

 

 

 

 

**Financing Activities **

 

 

 

 

 

 

Proceeds from related parties 

 

14,359 

 

3,000 

 

18,589 

Proceeds from issuance of common shares 

 

– 

 

88,000 

 

105,000 

 

 

 

 

 

 

 

**Net Cash Provided By Financing Activities **

 

14,359 

 

91,000 

 

123,589 

 

 

 

 

 

 

 

**Increase (Decrease) in Cash **

 

(55,373)

 

82,347 

 

 

 – 

 

 

 

 

 

 

 

**Cash – Beginning of Period **

 

55,373 

 

5,148 

 

– 

 

 

 

 

 

 

 

**Cash – End of Period **

 

– 

 

87,495 

 

– 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

**Supplemental Disclosures **

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest paid 

 

– 

 

– 

 

– 

Income tax paid 

 

– 

 

– 

 

– 

 

 

 

 

 

 

 

 

(The accompanying notes are an integral part of these financial statements)

 

 

 

F-3

                 
              
**1.**

**Nature of Operations and Continuance of Business**

Midex Gold Corp. (formerly Tripod International Inc.) (the “Company”) was incorporated under the laws of the State of Nevada, U.S. on February 6, 2008. The name of the company was changed to Midex Gold Corp. on April 27, 2009. The Company is an Exploration Stage Company, as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (”ASC”) 915, “*Development Stage Entities.  *The Company has not generated any revenue to date and consequently its operations are subject to all risks inherent in the establishment of a new business enterprise. 

**2.    Going Concern**

These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has generated no revenues to date and has never paid any dividends and is unlikely to pay dividends or generate significant earnings in the immediate or foreseeable future.  As at September 30, 2009, the Company had a working capital deficit of $28,946 and an accumulated deficit of $133,946. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability to raise equity or debt financing, and the attainment of profitable operations from the Company's future business. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.  

**3.**

**Interim Financial Statements**

These interim unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information. They do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. Therefore, these financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto for the year ended March 31, 2009.

The financial statements included herein are unaudited; however, they contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the Company’s financial position at September 30, 2009, and the results of its operations and cash flows for the six month period ended September 30, 2009 and 2008. The results of operations for the period ended September 30, 2009 are not necessarily indicative of the results to be expected for future quarters or the full year.

**4.**

**Related Party Transaction**

As at September 30, 2009, the Company owed $18,589 (March 31, 2009 - $4,230) to a director of the Company for funding of general operations. The amounts owing are unsecured, non-interest bearing, and due on demand.

**5.**

**Common Shares**

On July 31, 2009, the Company and its Board of Directors approved a five-to-one (5:1) forward stock split of all issued and outstanding common shares, with an effective date of August 10, 2009.  The effect of the forward stock split increased the number of issued and outstanding common shares from 35,000,000 shares to 175,000,000 shares, and the forward stock split has been applied on a retroactive basis since the Company’s inception date.  

 

 

 

F-4

                 
              
**6.**

**Restatement**

The Company has restated its financial statements as at and for the three and six months ended September 30, 2009 due to an accounting error.  The financial statements have been restated to reflect the recording of $6,169 of general and administrative expenses.

The effect of the restatement increased net loss for the period ended September 30, 2009 by $6,169.

 

**a)**

**Balance Sheets**

 

**As at September 30, 2009**

 

As Reported

Adjustment

Restated

 

$

$

$

**Liabilities**

 

 

 

Accounts Payable

6,385

3,972

10,357

Due to a Related Party

16,392

2,197

18,589

**Stockholders Deficit**

 

 

 

Accumulated Deficit During the Exploration Stage

(127,777)

(6,169)

(133,946)

**b)**

**Statements of Operations**

 

**For the Three Months Ended September 30, 2009**

 

As Reported

Adjustment

Restated

 

$

$

$

General and Administrative

33,468

4,173

37,641

**Total Expenses**

**33,468**

**4,173**

**37,641**

**Net Loss**

**33,468**

**4,173**

**37,641**

 

 

 

**For the Six Months Ended September 30, 2009**

 

As Reported

Adjustment

Restated

 

$

$

$

General and Administrative

73,920

6,169

80,089

**Total Expenses**

**73,920**

**6,169**

**80,089**

**Net Loss**

**73,920**

**6,169**

**80,089**

 

 

 

**Accumulated from February 6, 2008 (Date of Inception) to September 30, 2009**

 

As Reported

Adjustment

Restated

 

$

$

$

General and Administrative

127,777

6,169

133,946

**Total Expenses**

**127,777**

**6,169**

**133,946**

**Net Loss**

**127,777**

**6,169**

**133,946**

**c)**

**Statements of Cash flows**

 

**For the Six Months Ended September 30, 2009**

 

As Reported

Adjustment

Restated

 

$

$

$

**Operating Activities**

 

 

 

Net Loss for the period

(73,920)

(6,169)

(80,089)

Changes in operating assets and liabilities:

 

 

 

Accounts Payable

6,385

3,972

10,357

**Cash flows Used In Operating Activities**

**(67,535)**

**(2,197)**

**(69,732)**

 

 

 

 

**Financing Activities**

 

 

 

Proceeds from related parties

12,162

2,197

14,359

**Cash flows Provided by Financing Activities**

**12,162**

**2,197**

**14,359**

 

 

 

F-5

                 
              
**6.**

**Restatement**(continued)

**c)**

**Statements of Cash flows**

(continued)

 

**Accumulated from February 6, 2008 (Date of Inception) to September 30, 2009**

 

As Reported

Adjustment

Restated

 

$

$

$

**Operating Activities**

 

 

 

Net Loss for the period

(127,777)

(6,169)

(133,946)

Changes in operating assets and liabilities:

 

 

 

Accounts Payable

6,385

3,972

10,357

**Cash flows Used In Operating Activities**

**(121,392)**

**(2,197)**

**(123,589)**

 

 

 

 

**Financing Activities**

 

 

 

Proceeds from related parties

16,392

2,197

18,589

**Cash flows Provided by Financing Activities**

**16,392**

**2,197**

**18,589**

**7.**

**Subsequent Events**

In accordance with ASC 855, we have evaluated subsequent events through June 15, 2010, the date of issuance of the unaudited interim consolidated financial statements, and did not have any material recognizable subsequent events.

 

 

 

F-6

                 
              
**ITEM 2.  Management Discussion and Analysis of Financial Condition and Results of Operations.  **

**Safe Harbor Statement**

This report on Form 10-Q contains certain forward-looking statements.  All statements other than statements of historical fact are “forward-looking statements” for purposes of these provisions, including any projections of earnings, revenues, or other financial items; any statements of the plans, strategies, and objectives of management for future operation; any statements concerning proposed new products, services, or developments; any statements regarding future economic conditions or performance; statements of belief; and any statement of assumptions underlying any of the foregoing. Such forward-looking statements are subject to inherent risks and uncertainties, and actual results could differ materially from those anticipated by the forward-looking statements. 

These forward-looking statements involve significant risks and uncertainties, including, but not limited to, the following: competition, promotional costs, and risk of declining revenues.  Our actual results could differ materially from those anticipated in such forward-looking statements as a result of a number of factors.  These forward-looking statements are made as of the date of this filing, and we assume no obligation to update such forward-looking statements.  The following discusses our financial condition and results of operations based upon our consolidated financial statements which have been prepared in conformity with accounting principles generally accepted in the United States.  It should be read in conjunction with our financial statements and the notes thereto included elsewhere herein. 

The following discussion should be read in conjunction with our consolidated financial statements, including the notes thereto, appearing elsewhere in this Form 10-Q.  The discussions of results, causes and trends should not be construed to imply any conclusion that these results or trends will necessarily continue into the future.

**Overview**

We were incorporated in the State of Nevada on February 6, 2008 under the name Tripod International, Inc.  On April 27, 2009 we changed our name to Midex Gold Corp.  We are engaged in the business of developing a select portfolio of near-term gold and diamond production projects in Tanzania. 

Our shares of common stock trade on the Over-the-Counter Bulletin Board under the symbol “MXGD.OB”.  We do not have any subsidiaries.

Please note that throughout this Quarterly Report, and unless otherwise noted, the words "we," "our," "us," the "Company," or "Midex Gold" refers to Midex Gold Corp.

**Liquidity and Capital Resources**

As of September 30, 2009, we had cash of $nil and a working capital deficit of $28,946.  As of September 30, 2009 our accumulated deficit was $133,946.  For the three months ended September 30, 2009 our net loss was $37,641 compared to $2,509 during the same period in 2008.  This increase was due to higher general and administrative expenses.  

 

 

 

5

                 
              
Our loss was funded by shareholder loans.  During the six months ended September 30, 2009, we raised in net proceeds $nil through financing activities and our cash position decreased by $55,373.

We used net cash of $80,089 in operating activities for the six months ended September 30, 2009 compared to net cash of $8,653 in operating activities for the same period in 2008.  We did not use any money in investing activities for the six months ended September 30, 2009 nor did we use any money for investing activities during the same period in 2008.  

 

During the six months ended September 30, 2009 our monthly cash requirement was approximately $13,348, compared to approximately $1,442 for the same period in 2008.  We expect to require a total of approximately $500,000 to fully carry out our business plan over the next twelve months beginning December 2009 as set out in this table: 

 

**Description**  

**Estimated Expense**

Legal and Auditing Expenses                                                               

$75,000

Office Rent and Expenses

$12,500

General Administration

$25,000

Geological Consulting

$60,000

Technical Consulting

$90,000

Field Contractors

$120,000

Field Labor

$10,000

Lab Expenses

$27,500

Travel

$60,000

Miscellaneous Expenses

$20,000

**Total**  

$500,000

We intend to meet our cash requirements for the next 12 months through external sources: a combination of debt financing and equity financing through private placements.  We are currently not in good short-term financial standing.  We anticipate that we may not generate any revenues in the near future and we will not have enough positive internal operating cash flow until we can generate substantial revenues, which may take the next few years to fully realize.  There is no assurance we will achieve profitable operations.  We have historically financed our operations primarily by cash flows generated from the sale of our equity securities and through cash infusions from officers and outside investors in exchange for debt and/or common stock.

These financial statements have been prepared on the assumption that we are a going concern, meaning we will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the ordinary course of operations.  Different bases of measurement may be appropriate when a company is not expected to continue operations for the foreseeable future.  Our continuation as a going concern is dependent upon our ability to attain profitable operations and generate funds there-from, and/or raise equity capital or borrowings sufficient to meet current and future obligations.  Management plans to raise equity financings over the next twelve months to finance operations.  There is no guarantee that we will be able to complete any of these objectives.  We have incurred losses from operations since inception and at September 30, 2009, have a working capital deficiency and an accumulated deficit that creates substantial doubt about our ability to continue as a going concern.

 

 

6

                 
              
**Results of Operations for the three months ended September 30, 2009 compared to the three months ended September 30, 2008 and from inception to September 30, 2009.**

*Limited Revenues*

Since our inception on February 6, 2008 to September 30, 2009, we did not earn any revenues.  As of September 30, 2009, we have an accumulated deficit of $133,946 and we did not earn any revenues during the three months ending on September 30, 2009.  At this time, our ability to generate any significant revenues continues to be uncertain.  Our financial statements contain an additional explanatory paragraph in Note 2, which identifies issues that raise substantial doubt about our ability to continue as a going concern.  Our financial statements do not include any adjustment that might result from the outcome of this uncertainty.

*Net Loss*

We incurred a net loss of $37,641 for the three months ended September 30, 2009, compared to a net loss of $2,509 for the same period in 2008.  This increase in net loss was due to higher general and administrative expenses.  From inception on February 6, 2008 to September 30, 2009, we have incurred a net loss of $133,946.  Our basic and diluted loss per share was $0.00 for the three months ended September 30, 2009, and $0.00 for the same period in 2008.  

*Expenses*

Our total operating expenses increased from $2,509 to $37,641 for the three months ended September 30, 2009 compared to the same period in 2008.  This increase in expenses is due to higher general and administrative fees.  Since our inception on February 6, 2008 to September 30, 2009, we have incurred total operating expenses of $133,946.

Our general and administrative expenses consist of bank charges, travel, meals and entertainment, office maintenance, communication expenses (internet, fax, and telephone), courier, postage costs, office supplies.  Our general and administrative expenses increased from $2,509 to $37,641 for the three months ended September 30, 2009 compared to the same period in 2008.  Since our inception on February 6, 2008 until September 30, 2009 we have spent $133,946 on general and administrative expenses.

**Results of Operations for the six months ended September 30, 2009 compared to the six months ended September 30, 2008 and from inception to September 30, 2009.**

*Limited Revenues*

We did not earn any revenues during the six months ending on September 30, 2009, nor did we earn any revenues during the same period in 2008.  At this time, our ability to generate any significant revenues continues to be uncertain.

*Net Loss*

We incurred a net loss of $80,089 for the six months ended September 30, 2009, compared to a net loss of $8,653 for the same period in 2008.  This increase in net loss was due to higher general and administrative expenses.  

 

 

 

7

                 
              
*Expenses*

Our total operating expenses increased from $8,653 to $80,089 for the six months ended September 30, 2009 compared to the same period in 2008.  This increase in expenses is due to higher general and administrative fees.  

Our general and administrative expenses consist of bank charges, travel, meals and entertainment, office maintenance, communication expenses (internet, fax, and telephone), courier, postage costs, office supplies.  Our general and administrative expenses increased from $8,653 to $80,089 for the six months ended September 30, 2009 compared to the same period in 2008.

**Inflation**

The amounts presented in the financial statements do not provide for the effect of inflation on our operations or financial position.  The net operating losses shown would be greater than reported if the effects of inflation were reflected either by charging operations with amounts that represent replacement costs or by using other inflation adjustments.

**Off-Balance Sheet Arrangements**

As of September 30, 2009, we had no off-balance sheet transactions that have or are reasonably likely to have a current or future effect on our financial condition, changes in our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources. 

**ITEM 3.  Quantitative and Qualitative Disclosure About Market Risks.
Not applicable. 

**ITEM 4.  Control and Procedures**

Not applicable

**ITEM 4T.  Control and Procedures.**

**Evaluation of Disclosure Controls and Procedures**

Disclosure controls and procedures have been designed to ensure that information required to be disclosed by the Company is collected and communicated to management to allow timely decisions regarding required disclosures.  The Chief Executive Officer and the Chief Financial Officer have concluded, based on their evaluation as of September 30, 2009 that, as a result of the following material weaknesses in internal control over financial reporting as described further in our Annual Report on Form 10-K filed with the SEC on March 19, 2009, disclosure controls and procedures were ineffective in providing reasonable assurance that material information is made known to them by others within the Company:

 

 

 

8

                 
              
a)    We did not maintain sufficient personnel with an appropriate level of technical accounting knowledge, experience, and training in the application of generally accepted accounting principles commensurate with our complexity and our financial accounting and reporting requirements.  We have limited experience in the areas of financial reporting and disclosure controls and procedures.  Also, we do not have an independent audit committee.  As a result, there is a lack of monitoring of the financial reporting process and there is a reasonable possibility that material misstatements of the consolidated financial statements, including disclosures, will not be prevented or detected on a timely basis; and

b)    Due to our small size, we do not have a proper segregation of duties in certain areas of our financial reporting process.  The areas where we have a lack of segregation of duties include cash receipts and disbursements, approval of purchases and approval of accounts payable invoices for payment.  This control deficiency, which is pervasive in nature, results in a reasonable possibility that material misstatements of the financial statements will not be prevented or detected on a timely basis.

**Changes in Internal Control Over Financial Reporting**  

There were no changes in our internal control over financial reporting during the fiscal quarter ended September 30, 2009 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. 

**Limitations On The Effectiveness Of Internal Controls**

Our management, including the CEO and CFO, does not expect that our disclosure controls and procedures or our internal control over financial reporting will necessarily prevent all fraud and material error.  An internal control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met.  Further, the design of the control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs.  Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected.  These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple error or mistake.  Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the internal control.  The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.  Over time, control may become inadequate because of changes in conditions, and/or the degree of compliance with the policies or procedures may deteriorate. 

 

 

 

9

                 
              
**PART II – OTHER INFORMATION**

**ITEM 1.  Legal Proceedings.**

As of June 15, 2010 there are no material pending legal proceedings, other than ordinary routine litigation incidental to our business, to which we or any of our subsidiaries are a party or of which any of our properties is the subject.  Also, our management is not aware of any legal proceedings contemplated by any governmental authority against us.

**ITEM 2.  Unregistered Sales of Equity Securities.**

None.

**ITEM 3.  Defaults Upon Senior Securities.**

None.

**ITEM 4.  Submission of Matters to a Vote of Security Holders.**

None.

**ITEM 5.  Other Information.**

None.

 

 

 

10

                 
              
**ITEM 6.  Exhibits.**

**Number**

 

**Description**

31.1

 

Certification of Chief Executive Officer and Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

 

 

 

32.1

 

Certification of Chief Executive Officer and Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on our behalf by the undersigned thereunto duly authorized.

 

  

**MIDEX GOLD CORP.**

 

 

(REGISTRANT)

  

 

Date:  June 15, 2010

/s/ *Morgan Magella*

 

 

Morgan Magella

  

 

Chief Executive Officer, Chief Financial Officer, Director

 

 

(Authorized Officer for Registrant)

 

 

 

 

11

                 
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